The House Republicans held a press conference ahead of their meeting with the President, to discuss the lame duck session:
More Republicans in the news:
Mike Pence, one of my top choices for President in 2012, spoke at the Detroit Economic Club on the state of the economy:
Pence Detroit Economic Club Speech: “I choose limited government and freedom.”
“We live in no ordinary times. Our economy is struggling in the city and on the farm. Unemployment is at a heartbreaking 9.6 percent nationally and nearly 13 percent in Michigan. Nearly 42 million Americans on food stamps. A housing crisis and dismal GDP growth.
“And it seems that those in authority have no idea what to do about it. Some in the administration call it the “new normal.” (like we haven’t heard that before) In the 70’s they called it a national “malaise.”
“With more than 15 million people still looking for work, President Obama and Democrats in Congress have tried to borrow and spend the country back to prosperity resulting in trillion dollar plus annual deficits and a nearly $14 trillion national debt. To this runaway federal spending they added a government takeover of health care, attempted a national energy tax and approved one bailout after another.
“In September 2008, when the Bush Administration proposed that Congress give them $700 billion to bail out Wall Street, I was the first Member of Congress to publicly oppose it. I didn’t think we should do nothing, I just thought it was wrong to take $700 billion from Main Street to bailout bad decisions on Wall Street. I warned that passing TARP could fundamentally change the relationship between the government and the financial sector and so it has.
“Dodd-Frank codified “too big to fail” for some Wall Street firms and made taxpayers the first line of defense against failure. And we continue to bailout Fannie and Freddie to the tune of about $150 billion, with more expected, despite the fact that many of us have been fighting for years to get them off the government’s books. The partnership between the federal government and Fannie and Freddie socializes losses and privatizes profits with taxpayers getting the short end of the stick.
“And, even though I am proud of the American automotive tradition and Indiana’s ongoing role it, I even opposed bailing out GM and Chrysler. While the administration has been busy making the point that GM is on the rebound and taxpayers are being repaid, most Americans know that it still would have been better if GM had gone through an orderly reorganization bankruptcy without taxpayer support.
Of the 94 incoming members of the House of Representatives, 90% are Republicans, nearly 40% have law degrees and about 35% have never before held elective office.
Oh, and at least 15% plan to bed down in their congressional offices.
It’s the ultimate I’m-not-a-professional-politician statement, reminiscent of the 1994 midterm elections, when a GOP House takeover led to a surge in House sleepovers.